Hansa Hydrocarbons has bought Noble Energy’s stakes in the Lancelot Area Pipeline System (LAPS) area, located off the coast of Norfolk.
The exploration and production company will take over interests in the Malory, Guinevere and Lancelot fields of the Southern North Sea, located in Blocks 48/12d and 48/17b.
The undisclosed deal marks the latest sell-off of North Sea interests by Noble, which has been disposing of assets in the region over the last year.
Combined production from the three fields last year totalled 21million cubic feet per day, with Hansa taking a 24% interest in Malory, a 25% stake in Guinevere and a 2% share in the Lancelot field and associated pipeline and compression facilities, which are operated by Perenco.
“Although a small acquisition for Hansa, it makes a great deal of sense to add these assets to our portfolio as it strengthens our UK core area,” said John Martin, Hansa Hydrocarbon’s chief executive.
“Malory is the key asset which continues to outperform expectations and underwrites the longevity of LAPS.
“Furthermore, through our in-house studies of the neighbouring Juliet and Thoresby field areas, we have developed an excellent understanding of the regional geology which gives us confidence in pursuing subsurface growth opportunities in the area.
“Entry into the LAPS assets serves as an important platform from which to pursue these opportunities.”
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